Welspun New Energy to invest Rs 135 billion in Odisha’s energy projects

Welspun New Energy has signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs 135 billion in the state’s renewable energy sector. The investment includes plans for a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project.

These initiatives aim to boost Odisha’s energy storage capacity and support the integration of renewable energy into the grid, aligning with the state’s ‘Viksit Odisha 2036’ vision to become a green energy hub. The projects are also expected to create jobs and promote socio-economic growth.

In September 2024, Welspun signed an MoU with the Government of Maharashtra for a 1,200 MW Dhamni Pumped Storage Project, set for construction over the next seven years with an investment of Rs 50 billion in Pune and Raigad districts.